CLOV - Probably Exiting

I'll probably be exiting my CLOV long today as there has been a strong rejection on the weekly at the 2.618 fib if it closes in this area that big wick shows heavy selling pressure .

Assuming it closes here then this area that has seen some bullish action becomes a higher degree retracement for another leg down to form a probable WXY to see CLOV hit $0.49.

When I started posting longs for CLOV I really didnt think it would become a waterfall chart due to strong POC and also buy signals from trend indicators, however in light of of market parameters indexes reaching their probable tops and DXY bullish it is not surprising that little names like CLOV began their bear markets early and really who knows where this will end, the fib at $0.49 is merely where a next equidistant wave could end.

Assuming close in this area I will again be 100% net short from today.

Not advice.

Comment:

Also note RSI is "relative strength" and will simply remain in the oversold area until there is a "relative" let up. It was only of interest of it crossed up above the lower band which it hasnt.